Disney Parks posted 70% increase in revenue for the third quarter of 2022 but is still claiming to have been affected by an “unfavorable attendance mix.”
The earnings report released today claims that per capita ticket revenue was up due to Genie+ and Lightning Lane, but offset by Disneyland attendance. This is likely in reference to the Magic Key Pass program, which is the west coast equivalent of an Annual Pass.
The program is currently in question as most Magic Key passes are set to expire soon and no details on renewal have been given.
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There has to be a point of diminishing returns on prices raising so drastically over the last 5 years. Maybe we have hit that point. I was there this past weekend and it was crammed with people.
walt once said, all this was built on one little mouse. because the man was from a very small town in missouri, not even a stop sign in marceline. and realized you can perform out of a barn to very small crowds and gain a reputation by giving people what they most desire. a chance to escape everyday life. imagine if walt had tried to build all of it upon the thought of how much you can fleece the people? yep folks, disney would not even exist today! to understand of that which i write, go to marceline and see for yourself where his humble beginnings all came from! one stupid little red barn in a poor town in the middle of one somewhat little insignificant state and one little mouse that people enjoyed escaping to! the man lived to entertain you, not to fleece you. and built an empire that today wants to fleece you rather than entertain you. so sad if you do not know the entire history of the man that built the house of mouse. RIP wwwd.
Well it was about a year ago that Disney raised the prices to all the park hoping to reduce the amount of people in the parks. So they kinda asked for this. It’s common sense.
At least put a quote of who said it and the actual quote instead of just the word. Lacking in context, research, and information. Incredibly poor compared to journalism standards. Don’t use Discord as a reference and join the actual earnings call in the future. Thanks, Katie!
Fire Bob Paycheck!
AKA. Mr Clean for a reason haha
Unfortunately he’s not going anywhere with his new contract extension. 3 more years? I think?
Revenue is down because they have made it nearly impossible for families to go. We were annual passholders for more than a decade.. but with pass and ticket prices so high and the elimination of the fast pass system, we no longer go. We chose a more affordable theme park pass (a competitor). I’m nostalgic for the old days of Disney, but they are greedy and do not care about their core fans.
Definitely setting the scene to can annual passes if they feel like doing it. I’d like to say someone with some business sense would realize that’s a mistake, but it seems like the people with that sense don’t work at Disney right now. I have traveled to Disneyland once a year on average for a couple years now and I can’t imagine a local paying what I pay to go.
“Attendance Mix” in Disney speak means people who spend a lot of money on food and goods while they’re at the park with a low cost to entertain. That usually means impulse buys by people who decided to visit a Disney park. If you have to pre-plan everything, guess what, they’re going to pre-plan for less expensive food, and who wants to spend money shopping when they’re constantly reminded of how much they’re spending every time with Lightning Lane and trying to get their money’s worth with Genie+? We use to be AP owners at the highest tier, go on a whim for 4 to 6 hours, do breakfast and lunch at the Park, ride at most 3 or 4 rides, easily spend over a couple of hundred $ on goods each visit. We’d skip the known days to be overly crowded. Doesn’t that sound like the ideal Disney park visitor? But no more… their badly thought out reservation system and Genie+ caused us and so many other “Ideal Mix” to stop going. Probably not long before Chapek figures out he’s milked all the revenge vacationers of their money and has to figure out something else to do!
If they would lower prices they would not have to spend millions in advertising.
Chapek was the worst thing that could have happened to Disney. Along with all the idiots that make political statements in Disney movies instead of just sticking to entertainment!! Disney has also been our favorite place to go but since Chapek took over the Magic is disappearing!!
The magic of the parks are like Walt,DEAD!
What a shame that Disney’s biggest and most loyal fans want to visit.
Katie, what is meant by unfavorable attendance mix? The mix of attendees? The mix of full pay vs key holders? I’m not fully understanding your article. As a Key Holder, I love the ability to visit anytime, but I have to say the overall attitudes by many of the visitors leave A LOT to be desired. There is rudeness, entitlement, carelessness, … somewhere the magic has been lost.
We had to give up our passes because of the sharp increase in costs for the pass itself and for everything else once at Disneyland. It’s heartbreaking. We want to be there, so we were thinking of just paying for a day, but with all the upcharges to not stand in severely impacted lines (which limit the amount of things you can get done in one day), it’s out of our middle class budget.
“Unfavorable attendance mix” = “some people are paying less than $250 a day to get into the park, we gotta put a stop to that.”
Manual Assholders are a n over privileged bunch of whinners that ruin the magic for everyone else !!!
What a waste of a headline. How about some details on the story
Yeah, writers have been fitting the whole story in a headline for decades…
They reported $7 billion in revenue for Q3 …alone. Yet, Chapek cries poor because he is fueled by greed, along with this regime he’s installed, after firing the entire Iger regime. He really is Dr. Evil. Wait til everyone goes through their lockdown savings, kids go back to school. Keep trying to raise prices. How about you take the billions you make in a matter of 3 months and pay your Cast Members a living, dignified wage? Chapek’s salary was doubled in 2021 by the board. The entire Disney executive team and board are disgraceful. Walt would be horrified. It’s too bad Chapek was able to cheat his way past the 5 successors that Iger picked, to clench the top seat.
People have so many alternatives now without breaking the bank. Disney does not realize that they have theme parks that have admission prices that are nearly 1/2 the price even more; they are slowly out pricing the middle class; why go to Disney at 150.00 a person when you can go to Knotts/Seaworld and some days Universal for 1/2 the price. Disney got greedy and this simply shows the consequences; no middle income family has 600.00 + just on admission alone for a day at the park
Removing the annual pass and fast pass was one of the biggest mistakes they could have done for Disneyland. As a pass holder I would go twice a week or more just go eat or spend a little time at the park. Now you have to pay for the genie pass that only lets you select a ride ONE TIME ONLY and while it’s reserved you can’t select anymore rides. Plus you have to reserve your dates which is ridiculous. Pre Covid Disney was the best. This new CEO clearly cares about money and only money and not about the guests experience. The only mistake Iger ever did as CEO was selecting this new Bob Paycheck.
I’ve been planning a trip to Disneyland these last few months but every time I go online I noticed one of the rides are closed prices are going up it’s always something preventing me from going. My daughter’s now 6 years old and she has never been to Disneyland we’re a big family of five when Disney makes it difficult for us big families to visit. I hope the lower price is soon prices soon.
I think it is more likely that the Disney superfans have come back and don’t like what they see, so they are not returning. People want the old unique Disney experience, not the Disney-themed Six Flags experience they have now.
Great PR tactic Bob, when revenue is down say you want different customers.
Seems the customers he wants are ones that do the exact opposite of him, spend lots of money.
Disney isn’t what it used to be. The latest iteration of the mouse is all about greed. A burger cost me 30$ last time I went. Rather go Universal.
it’s supply and demand….there are other more affordable suppliers of family entertainment such as Knotts and Universal studios. It’s time Disney got the mouse back on track and opens the theme park to all kids, not just the wealthy ones…
And, how about sticking to the company mission?…Walt Disney didn’t create the Magic Kingdom as a spin-off for political agendas…